In a dream world, we’d all have cash to buy our Santa Fe home. However, here in the real world, most of us have to obtain an mortgage to fund our property purchases.

Here are ten absolute RULES that should be followed while waiting for your mortgage to be approved and then fund at closing:

1.  Thou shalt NOT change jobs or quit your job!

2.  Thou shalt NOT buy a car!

3.  Thou shalt NOT use charge cards excessively or make late payments!

4.  Thou shalt NOT spend money you have set aside for your new home or the down payment!

5.  Thou shalt NOT omit debts or liabilities from your loan application!

6.  Thou shalt NOT buy furniture!

7.  Thou shalt NOT originate any inquiries to your credit!

8. Thou shalt NOT make large deposits to your bank account!

9.  Thou shalt NOT change bank accounts!

10.  Thou shalt NOT co-sign a loan for anyone!

The bank account commandments are effective for three months – if you apply for a loan, the lender will ask for the past three months bank statements.  They will then ask for the same again right before closing.

Need a great lender? I have several and would love to introduce you to someone who will take extra care with your home investment.

Have other questions? Give me a call. I’ve helped hundreds of buyers find both a dream home AND a great lender.